The shares of the steel tubes and pipes maker rose nearly 4 percent to Rs 402.50 in early trade on Wednesday following the announcement of the record date for the bonus issuance.
At 12:30 p.m., JTL Industries Ltd shares were trading at Rs 400.80 a share on the National Stock Exchange, up Rs 14.10 or 3.65 percent, with a market capitalization of Rs 3,400 crores.
According to the company’s BSE report, The Company announced September 7, 2023, as the Record Date for determining shareholder eligibility for the issuance of bonus shares in the ratio of 1:1, i.e. the company would issue one bonus share for every one share owned by existing shareholders, and it is subject to shareholder approval at the company’s upcoming 32nd Annual General Meeting on August 30, 2023.
JTL Industries Ltd’s revenue has increased by 97 percent year on year, from Rs 256 crore in Q1FY23 to Rs 504 crore in Q1FY24. During the same period, net profit climbed by 127 percent, from Rs 11 crore to Rs 25 crore.
The company stock has delivered a 27 percent return in six months and a 37 percent return last year.
The company’s margin ratios have increased, with an operating margin of 8.40 percent and a net profit margin of 5.81 percent. Profitability ratios are also in excellent condition, with a return on equity at 22.13 percent and a return on capital employed at 30.80 percent.
As per the latest shareholding pattern, The promoters own 56.2 percent of the company, while retail investors possess 42.39 percent.
JTL Infra Ltd is an integrated manufacturer and supplier of steel tubes, pipes, and associated products.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
